Montreal’s boroughs are all quite unique, and determining which ones to include in your house search can be quite a challenge. There are several factors to take into consideration when choosing your location: lifestyle, amenities, safety, price and appreciation rates. Montreal officially has 19 boroughs, but here are 9 of the most popular ones: 1. The South West, 2. Rosemont 3. The Plateau, 4. NDG 5. Outremont 6. Verdun/Lachine/Lasalle and 7. Old Montreal (Ville Marie) 8. Westmount and 9. Downtown.
1. The South West
Affordability is a big advantage in this up and coming area: the average home in Rosemont is $100,000 dollars less than in the nearby Plateau. This neighbourhood is in high demand due to its proximity to the Mile End and its friendly, family oriented community. Rosemont is an excellent place to shop for duplexes and triplexes, especially ones with interesting architectural features. It’s also quite a dynamic neighbourhood, due to its placement near the busy St Laurent and St Denis streets.
3. The Plateau
The Plateau has beautiful homes in the classic Montreal style- with sweeping staircases, coloured windows and tree lined streets. It’s a very desirable place to live due to its remarkable architecture and lively commercial arteries. While the homes in this area are appealing, they aren’t as affordable as those in the SouthWest or Rosemont.
NDG is a diverse neighbourhood with properties ranging from urban condos to family homes and duplexes. As an investment, purchasing in NDG requires careful research. There are areas that will bring you a return on your investment whilst there are other areas that will be hard to resell. Be sure to work with a real estate professional who is familiar with the neighbourhood and can guide you towards a safe investment.
Outremont is a well reputed neighbourhood for families – it’s clean and safe, with several large public parks. On the downside, real estate in NDG comes with a hefty price tag. Furthermore, since the homes in this area tend to be older constructions, many need renovations before moving in. Be sure to opt for a home inspection before buying in this area.
6. Verdun, Lachine and Lasalle
Verdun is an emerging market that is quickly becoming considered part of the downtown core. Its strategic location (close to the central core) makes it a great investment for anyone with long-term vision. These areas have performed well in this past year and are expected to appreciate at a high rate in the coming decade.
7. Old Montreal
There’s a certain status that comes with living in Old Montreal; It’s trendy, sophisticated and nostalgic, with its upscale boutiques and restaurants. The proximity to the Downtown core and to the Port is also a big plus. However, buying in this area requires a large budget and may be out of reach for young, first time buyers.
Like Outremont, the homes here don’t come cheap. However, it’s an appealing and well-reputed family area with lots of greenery, safe streets, quaint houses, and a strong sense of community.
The obvious pro of buying downtown is the central location: chances are you’ll be close to work and to all the activities offered by the city’s core- the shopping districts, nightlife and restaurants. On the down side, prices are higher in downtown Montreal than in the surrounding boroughs.